Category: MIL-OSI

Source: Hong Kong Information Services

The Monetary Authority announced today that the Base Rate has been set at 4.25% with immediate effect.

The decrease follows a 25-basis point downward adjustment in the target range for the US federal funds rate on October 29.

The base rate is the interest rate forming the foundation upon which the Discount Rates for repurchase transactions through the Discount Window are computed.

It is currently set at either 50 basis points above the lower end of the prevailing target range for the US federal funds rate, or the average of the five-day moving averages of the overnight and one-month Hong Kong Interbank Offered Rates, whichever is higher.

Source: Hong Kong Government special administrative region

     The Environmental Protection Department (EPD) and the Hong Kong Institute of Qualified Environmental Professionals (HKIQEP) today (October 30) cohosted a symposium titled “Advancing the Green Economy through Innovation and Collaboration” at AsiaWorld-Expo, Hong Kong.

     As one of the programme highlights of the 20th Eco Expo Asia, the symposium brings together government representatives, industry leaders, academics and professionals to foster professional dialogue, deepen partnerships, and promote Hong Kong’s vision in sustainable development and the green economy.

     In his welcoming speech at the symposium, the President of the HKIQEP, Mr Freeman Cheung, said the HKIQEP firmly believes that technology and collaboration are the key driving forces of promoting sustainable development. A cleaner, wiser and more sustainable Hong Kong can be built by enhancing environmental assessment, advancing smart city development and leveraging the collaborative strengths of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).

     The Director of Environmental Protection, Dr Samuel Chui, officiated at the symposium. In his speech, he highlighted that this year’s Policy Address sets out the Government’s commitment to fostering a green and low-carbon living environment and promoting the commercialisation of green information and technology outcomes, thereby developing Hong Kong into a demonstration base for green technology. He further stressed that collaboration between public and private sectors, academia and professional organisations is crucial to achieving these goals.

     Dr Chui said, “Our collaboration should transcend geographical constraints, actively leverage opportunities brought by the development of the GBA and the Belt and Road (B&R) Initiative, and share expertise in environmental protection and green solutions. Next year, the Hong Kong Special Administrative Region (HKSAR) Government will set up the B&R sustainable green development training centre to nurture talent in international environmental protection. The training centre will serve as a base for connecting the HKSAR with the global network for sustainable green development co-operation. The EPD is looking forward to working closely with the HKIQEP to contribute to regional and global sustainable development goals.”

     The symposium featured in-depth discussions on various important themes, including smart environmental assessment, biodiversity technology, green finance, and supply chain decarbonisation. Attendees unanimously agreed that cross-departmental collaboration and the integration of green innovative technology solutions are pivotal to achieving Hong Kong’s climate action and sustainable development goals.

     At the symposium, the HKIQEP signed a Memorandum of Understanding with the GBA Eco-environmental Science Center and the Capacity-building Alliance of Sustainable Investment respectively, to deepen cross-regional co-operation and enhance professional capacities. Dr Chui witnessed the signing ceremony.

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Source: Hong Kong Information Services

Hong Kong boasts 1,180km of shoreline and 263 islands, making it ideal for yachting.

In the recent 2025 Policy Address, Chief Executive John Lee proposed, for the first time, to develop the city’s yacht economy, and to establish Hong Kong as a key yachting hub in Asia.

Initiatives include providing 600 additional yacht berths at the former Lamma Quarry, expansion of the Aberdeen Typhoon Shelter and the Hung Hom Station waterfront projects, and a planned yacht bay at Airport City, which will include berths that can accommodate superyachts of over 80m in length.

More convenience

Stephen Wong, Head of the Chief Executive’s Policy Unit (CEPU) recently held a discussion with prominent figures in the yachting industry to explore the sector’s prospects.

He highlighted that there are new measures in place that mean incoming boats can avoid prior booking, giving seafarers greater convenience.

Hong Kong Boating Industry Association Chair Lawrence Chow agreed that this is a positive development, applauding  “the regulations of making it more convenient for visiting yachts to come to Hong Kong, with these new anchorage spaces, and then also streamlining the customs, immigration and quarantine facilities.”

Full ecosystem

The Policy Address also provided details of the proposals for the yacht bay at Airport City.

Asia-Pacific Superyacht Association Executive Director Suzy Rayment stressed the importance of welcoming more high-spending visitors, and remarked that the superyacht industry brings a full ecosystem of jobs and services to Hong Kong.

“For example, you need to have berthing, fuelling and provisioning, and so Hong Kong as a whole benefits from these yachts coming in, because they spend a lot of money,” she said.

Miss Rayment added that many yacht owners manage their vessels through family offices, and that they may also own private jets or have a helicopter on their yachts.

For Mr Wong, the emphasis on high-value yacht owners aligns well with the city’s strategy of attracting family offices, as well as its efforts to build the city’s reputation as an art trading hub.

Complementing this perspective, Mr Chow said that more boats coming in will mean more career opportunities for captains and crew, a growing role for the maintenance sector, and new opportunities for Hong Kong’s mega event industry.

“When we have, for example, the Hong Kong Marina there, it could possibly host some international events in the heart of the city. That really puts Hong Kong on the map.”

Key gateway

Mr Wong also underlined Hong Kong’s strategic role in connecting regional yacht communities, as well as its potential to serve as a springboard into the Greater Bay Area.

He said the Asia-Pacific Superyacht Association is active in organising prestigious events, such as international yacht shows, that attract important business travellers.

Miss Rayment explained that the association works across the Asia-Pacific area with regional neighbours including Singapore, Malaysia, Thailand and Japan.

She described Hong Kong as a fantastic hub because of its well-established boating community, which includes 70-plus superyacht owners.

“And if we add in the Greater Bay Area, that is going to be quite amazing.”

Co-ordinating role

The industry stakeholders also applauded the CEPU’s co-ordination efforts, including its hosting of a roundtable discussion on the yacht economy in March. The forum gathered insights from industry leaders, Legislative Council members and government bureaus.

Mr Chow praised the rapid progress made so far and the way the CEPU has brought together different stakeholders, commenting “It means a lot.”

Miss Rayment affirmed that industry associations can offer information of a technical nature that will be invaluable to policy-makers going forward.

Mr Wong added that the CEPU looks forward to collaborating further with industry players  to help Hong Kong’s yacht economy develop its potential.

Source: Hong Kong Government special administrative region – 4

     Police are investigating a murder and suicide case happened in Tsing Yi today (October 29) in which a man and a woman died.

     At 2.29pm, Police received a report that a man was found lying unconscious outside Hang Chi House, Cheung Hang Estate, suspected of having fallen from height.

     Police officers sped to the scene. The 82-year-old man was certified dead at scene. Officers later located a 56-year-old woman lying unconscious inside a unit in Wang Sum House, Cheung Wang Estate. Sustaining head injuries, she was certified dead at scene.

     Initial investigation revealed that the man had allegedly attacked the woman with a blunt object inside the unit in Wang Sum House.

     Post-mortem examinations will be conducted later to ascertain the cause of death of the deceased.

     Active investigation by the District Crime Squad of Kwai Tsing District is underway.

Source: Hong Kong Government special administrative region – 4

Hong Kong Customs and anti-smuggling departments of the Mainland Customs conducted a joint operation. Through intelligence analysis, Hong Kong Customs intercepted two express parcels from Belgium, declared as pesticides, that were sent to Hong Kong via the Chinese Mainland on October 24 and yesterday (October 28) and discovered a total of 20 kilograms of suspected ketamine concealed inside plastic buckets from the parcels. The total estimated market value was about $9 million.

Customs officers subsequently mounted a controlled delivery operation yesterday and arrested two men, aged 21 and 77, suspected to be connected with the case in Cheung Sha Wan. Customs officers also seized HK$420,000 in cash from the 21-year-old man’s private car.

The two men have been charged with two counts of attempting to traffic in a dangerous drug and will appear in the West Kowloon Magistrates’ Court tomorrow (October 30).

Customs reminds members of the public to stay alert and not to participate in drug trafficking activities for monetary return. They must not accept hiring or delegation from another party to carry controlled items into and out of Hong Kong. They are also reminded not to carry unknown items for other people, nor to release their personal data or home address to others for receiving parcels or goods.

Customs will continue to maintain close contact with Hongkong Post and the logistics industries to step up action against drug trafficking through postal parcel or express courier channels.

Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.

Members of the public may report any suspected drug trafficking activities to Customs’ 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk).

Source: Hong Kong Government special administrative region – 4

     The National Security Department of the Hong Kong Police Force arrested two local men and three local women, aged between 32 and 60, in Kowloon and the New Territories yesterday (October 28). They were suspected of committing offences contravening the Public Order Ordinance (Cap 245), for “aiding and abetting riot”, “incitement to riot” and “conspiracy to incite riot”, as well as the offence of “sedition” under the Safeguarding National Security Ordinance. They were also suspected of “perverting the course of public justice”.
    
     Police investigations revealed that the arrested persons were suspected of manufacturing and providing weapons for frontline rioters who participated in multiple riots in late 2019, with the intention of causing serious casualties. One of the arrested men, aged 34, was also suspected of repeatedly posting seditious posts on his social media platform, which included inciting hatred against the Hong Kong Special Administrative Region Government and encouraging unlawful behavior. Another arrested woman, aged 50, was suspected of “perverting the course of public justice” by attempting to assist one of the arrested men in removing evidence related to the case.
 
     During the operation, a total of about $250,000 in cash was seized, believed to be related to the case. The arrested persons are being detained for further enquires. Police operation is ongoing.
 
     Police stressed that anyone participating in or supporting acts that undermine public peace and endanger national security is committing a serious offence. The maximum penalties for offences of “rioting” and “sedition” upon conviction are 10 years and seven years of imprisonment respectively. Police will continue to uphold the principle of “laws are observed and strictly enforced, to bring offenders to account” and will take resolute enforcement actions.

Source: Hong Kong Information Services

The Police Force’s National Security Department arrested two local men and three local women, aged between 32 and 60, in Kowloon and the New Territories yesterday.

They were suspected of committing offences contravening the Public Order Ordinance, for aiding and abetting riot, incitement to riot and conspiracy to incite riot, as well as the offence of sedition under the Safeguarding National Security Ordinance. They were also suspected of perverting the course of public justice.

Investigations revealed that the arrested people were allegedly involved manufacturing and providing weapons for frontline rioters who participated in multiple riots in late 2019, with the intention of causing serious casualties.

One of the arrested men, aged 34, was also suspected of repeatedly posting seditious posts on his social media platform, which included inciting hatred against the Hong Kong Special Administrative Region Government and encouraging unlawful behavior.

Another arrested woman, aged 50, was suspected of perverting the course of public justice by attempting to assist one of the arrested men in removing evidence related to the case.

During the operation, a total of about $250,000 in cash was seized, believed to be related to the case. The arrested people are being detained for further enquires.

Police stressed that participating in or supporting acts that undermine public peace and endanger national security are serious offences, and that offenders are liable to imprisonment for 10 years and seven years of  respectively upon conviction.

Source: Hong Kong Government special administrative region